The share price of WideOpenWest Inc. (NYSE:WOW) fell to $18.98 per share on Thursday from $19.13. While WideOpenWest Inc. has underperformed by -0.78%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, WOW fell by -15.76%, with highs and lows ranging from $23.92 to $15.96, whereas the simple moving average fell by -2.17% in the last 200 days.
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On August 06, 2021, The Benchmark Company Reiterated WideOpenWest Inc. (NYSE: WOW) to Buy. A report published by Raymond James on July 01, 2021, Upgraded its rating to ‘Strong Buy’ for WOW. B. Riley Securities also reiterated WOW shares as ‘Buy’, quoting a target price of $28 on the company’s shares in a report dated June 24, 2021. The Benchmark Company Initiated an Buy rating on June 03, 2021, and assigned a price target of $25. B. Riley Securities initiated its ‘Buy’ rating for WOW, as published in its report on May 14, 2021. Stephens’s report from May 06, 2021 suggests a price prediction of $22 for WOW shares, giving the stock a ‘Overweight’ rating. Truist also rated the stock as ‘Buy’.
Analysis of WideOpenWest Inc. (WOW)
Further, the quarter-over-quarter decrease in sales is -3.80%, showing a negative trend in the upcoming months.
To gain a thorough understanding of WideOpenWest Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 235.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and WOW is recording an average volume of 789.73K. On a monthly basis, the volatility of the stock is set at 3.67%, whereas on a weekly basis, it is put at 4.60%, with a gain of 1.17% over the past seven days. Furthermore, long-term investors anticipate a median target price of $22.75, showing growth from the present price of $18.98, which can serve as yet another indication of whether WOW is worth investing in or should be passed over.
How Do You Analyze WideOpenWest Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 86.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in WOW shares?
The recent increase in stakes in WOW appears to be a result of several institutional investors and hedge funds increasing their positions. Nine Ten Capital Management LLC’s position in WOW has increased by 1.51% in the first quarter. The company now owns 7,316,382 shares of the stock, with a value of $133.23 million, following the purchase of 108,605 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in WOW during the first quarter, downing its stake by -1.28%. During the last quarter, the company picked up -61,935 additional shares for a total stake of worth $87.11 million, bringing number of shares owned by the company to 4,783,510.
During the first quarter, Simcoe Capital Management LLC added a 139,136 position in WOW. Wellington Management Co. LLP purchased an additional 0.45 million shares in the last quarter, increasing its holdings by 13.08%, now holding 3.86 million shares worth $70.22 million. At the end of the first quarter, BlackRock Fund Advisors decreased its WOW holdings by -1.80% and now holds 3.12 million WOW shares valued at $56.85 million with the lessened 57097.0 shares during the period. WOW shares are owned by institutional investors to the tune of 86.00% at present.
